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The operating agreement must determine if the LLC is a member-managed LLC or manager-managed LLC so that third parties can Determine who has the authority

The operating agreement must determine if the LLC is a member-managed LLC or manager-managed LLC so that third parties can Determine who has the authority to make day to day decisions that bind the Determine who has unlimited liability Determine what the tax consequences each member will face at the end of the fiscal year Determine the financial stability of the LLC

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